$70 Million Settlement reached to resolve False Claims Act Allegations against Franklin American Mortgage Company

Settlement Amount:

$70,000,000

A settlement has been reached to resolve False Claims Act allegations against Franklin American Mortgage Company.

The Justice Department announced today that Franklin American Mortgage Company has agreed to pay the United States $70 million to resolve allegations that it violated the False Claims Act by deliberately originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development’s Federal Housing Administration that did not meet applicable requirements.

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$70 Million Settlement reached to resolve False Claims Act Allegations against Franklin American Mortgage Company

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